THE IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARDS FOUNDATION ON THE ACCOUNTING SYSTEM OF UZBEKISTAN

Abstract

This article provides a detailed analysis of the impact of the standards developed by the International Financial Reporting Standards Foundation on the accounting system of Uzbekistan. The study examines the process of implementing International Financial Reporting Standards (IFRS), their importance in improving financial transparency, increasing investment attractiveness, strengthening corporate governance, and integrating the national economy into the global financial system. The paper also analyzes the economic and institutional reforms carried out in Uzbekistan regarding IFRS adoption, identifies existing challenges, and proposes recommendations for further development of the accounting sector.